ISLAMABAD: Escalating conflict in the Middle East has forced the postponement of two significant Pakistani visits to the United States, disrupting diplomatic and economic plans, Dawn newspaper reported on Sunday.
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Lawmakers push back on tax powers in Finance Bill 2025
ISLAMABAD: A parliamentary panel on Saturday pressed the government to abandon proposed provisions in the Finance Bill 2025 that would empower tax officials to arrest individuals and issue money laundering notices, cautioning that such authority risks misuse and could stifle businesses.
Pakistan targets housing finance boost with foreclosure laws
ISLAMABAD: The government will roll out foreclosure laws to spur bank lending in the housing sector and clamp down on tax evasion to formalise its cash-reliant economy, Finance Minister Muhammad Aurangzeb said Friday.
IFC boosts Reko Diq mine with $400 million loan, total financing hits $700 million
ISLAMABAD: The International Finance Corporation will provide a $400 million subordinated loan for Pakistan’s Reko Diq copper-gold mine, according to an IFC disclosure on Friday, boosting its total financing for the project to $700 million and signaling strong support for the country’s natural resources sector.
SBP seen holding policy rate as Israel-Iran tensions fuel inflation risks
KARACHI: The central bank is expected to keep its policy rate unchanged on Monday as escalating tensions between Israel and Iran stoke fears of rising commodity prices, threatening a resurgence of inflation in the financially strained country
Enforcement or heavier taxes
The latest budget is a reckless bet that the government can muscle through enforcement measures no one believes are feasible. Finance Minister Muhammad Aurangzeb has staked the country’s fiscal future on a Rs14.1 trillion revenue target, a 19% jump from Rs11.9 trillion, underpinned by a crackdown on tax dodgers and IMF-mandated austerity. The problem? This plan assumes a level of political backbone and economic resilience that Islamabad has rarely shown. It’s less a strategy than a prayer, and the odds are stacked against it.
Pakistan to slash tariffs, abolish duties in bold export push
ISLAMABAD: Pakistan is set to slash its overall tariff regime by more than 4% over the next five years as part of a bold reform package aimed at turbocharging exports and pivoting the nation toward an export-led growth model, Finance Minister Muhammad Aurangzeb said on Wednesday.
IMF pleaser, growth freezer budget
ISLAMABAD: Pakistan’s Rs 17.6 trillion budget for 2025-2026, rolled out by Finance Minister Mohammad Aurangzeb, is a high-wire act, slashing the deficit to 3.9% of GDP from 5.9% to win IMF applause, while tiptoeing around the political third rail of taxing the untaxed and sparking growth in an economy stuck in neutral. Revenue projections hit Rs 19.3 trillion, Rs 14.1 trillion from taxes, Rs 5.1 trillion from non-tax sources, a blueprint drenched in discipline. Yet, with unemployment at 6.3% (and a jaw-dropping 44.9% for youth), a 241.5 million population swollen by a youth bulge, and an informal economy mocking the tax net, this budget risks being a masterclass in caution rather than the bold stroke Pakistan desperately needs. Stability is the buzzword here, but it might just be a polite term for paralysis.
Budget 2025/26: Taxes up, spending down, IMF smirks
ISLAMABAD: Finance Minister Muhammad Aurangzeb on Tuesday rolled out a Rs17.573 trillion budget for the fiscal year 2026, slashing spending by 6.9% and targeting a hefty Rs14,131 billion tax take, up 8.95%, under the watchful eye of the International Monetary Fund (IMF).
Budget to put IMF before growth
By Staff Reporter ISLAMABAD: Finance Minister Muhammad Aurangzeb will step into the spotlight today, unveiling the federal budget for 2025-26 in parliament, a fiscal blueprint